Oireachtas Joint and Select Committees
Wednesday, 9 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Denis O'Connor:
On 30 September, after the guarantee ... You can define solvency by two ways. Can a company pay its bills when they fall due? Does its assets exceed its liabilities? After the guarantee, it could pay its bills as they fell due and, at that point in time - we cannot recognise any future losses at a balance sheet date - so its assets exceeded its liabilities.
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